Regulatory agency approves decrease in fuel prices

Costa Rica’s Public Services Regulatory Authority (ARESEP) on Monday approved decreases in the prices of super and plus gasoline.

The agency authorized a ₡31 reduction in the per-liter price of super gasoline and ₡27 for plus gasoline.

But for diesel, ARESEP decreed a ₡15 price hike, increasing the per-liter price from ₡634 to ₡649 ($1.27-$1.30).

New prices already have been submitted for publication in the official newspaper La Gaceta, and once approved, a liter of super gasoline will decrease from ₡752 to ₡721  ($1.50-$1.44), while plus gasoline will decrease from ₡729 to ₡702 ($1.46-$1.40).

Decrees usually take up to three days to be published in La Gaceta, and the new prices are likely to apply starting this week.

Price adjustments were calculated by a formula that takes into account oil prices in the international market and variations in the dollar exchange rate.

Also, the price of liquefied gas will increase by ₡505 ($1), and a 25-pound tank will jump from ₡7,808 to ₡8,313 ($15.62-$16.63).